Mr Holtz replaces Thomas Gardner, who was chairman, president and CEO. Mr Carragher, currently lead director of Nucryst, will assume the role of chairman. Mr Holtz will also remain as CFO.
Previously, Mr Holtz was vice president and CFO of Nucryst. Before joining Nucryst, Mr Holtz served as a financial management consultant for various start-up companies, including Virium Pharmaceuticals.
Mr Holtz has received a BS in business administration with an emphasis on finance from Susquehanna University.
Mr Carragher said: “David’s experience and skills will be beneficial to Nucryst as management focuses all efforts on bringing the company to profitability. We thank Tom Gardner for his many contributions to the company and for his dedicated service.”